POEMS vs Vickers

[Andrew833]

DBS Vickers cashup front $10 also CDP.

Buy sell also $10? I think is buy $10, sell $25 right? Can't rem.

 

[reddevil0728]

Buy sell also $10? I think is buy $10, sell $25 right? Can't rem.

Buy.

Sell can use fsm1

 

[Andrew833]

Buy.

Sell can use fsm1

Just make it simple for newbie. Old bird no problem to understand this kind of transaction.

 

[reddevil0728]

Just make it simple for newbie. Old bird no problem to understand this kind of transaction.

Then the newbie might end up spending more money

 

[Andrew833]

Then the newbie might end up spending more money

This is only peanut compare to his 10k investment

 

[reddevil0728]

This is only peanut compare to his 10k investment

Many $25 is a lot

 

[subsistence]

Buy.

Sell can use fsm1

Buy from DBS
trf to fsm1 and then sell?

Is that what you mean? really confusing for a newbie like me but better to learn than to not know at all

 

[reddevil0728]

Buy from DBS
trf to fsm1 and then sell?

Is that what you mean? really confusing for a newbie like me but better to learn than to not know at all

Buy from DBS vickers will go to CDP.

FSM1 can sell from CDP.

 

[subsistence]

Buy from DBS vickers will go to CDP.

FSM1 can sell from CDP.

Just signed up for FSMone yesterday, read about the feature and about to link my CDP.

Thanks for sharing your knowledge!

 

[Andrew833]

Buy from DBS vickers will go to CDP.

FSM1 can sell from CDP.

You teach a newbie this without telling him any thing about clearing etc
This going to be a hard lesson.

 

[subsistence]

You teach a newbie this without telling him any thing about clearing etc
This going to be a hard lesson.

Tell me about it?

 

[Andrew833]

Tell me about it?

If for me, I will start with 1 platform, learn all the trading stuffs. When you know more about trading, contra, T+2/3 etc, then look for cheap option.

 

[reddevil0728]

You teach a newbie this without telling him any thing about clearing etc
This going to be a hard lesson.

i only point i don't spoonfeed

 

[yuzu28]

Anyone here uses Poems Cash Plus account?
https://www.poems.com.sg/cash-plus/#promofaq
The published rate is 0.08% (promo) or 0.1% for Premier account, SGX fee waived.

If you are using Poems Cash Plus, could you help to share a Buy transaction "sample"? Would like to know the net amount (no. of shares x share price) and the settlement amount. I would like to confirm the fee % with mine.

I am trying out this to see if the commission is really 0.08% or 0.1%, but my only transaction shows that the fee is 0.18%. If confirmed that this is the net fee %, guess I will move back to DBST.

Thanks in advanced.

 

[Andrew833]

Anyone here uses Poems Cash Plus account?
https://www.poems.com.sg/cash-plus/#promofaq
The published rate is 0.08% (promo) or 0.1% for Premier account, SGX fee waived.

If you are using Poems Cash Plus, could you help to share a Buy transaction "sample"? Would like to know the net amount (no. of shares x share price) and the settlement amount. I would like to confirm the fee % with mine.

I am trying out this to see if the commission is really 0.08% or 0.1%, but my only transaction shows that the fee is 0.18%. If confirmed that this is the net fee %, guess I will move back to DBST.

Thanks in advanced.

Mine is Cash management acc, all trades around $25++ but shares is deposit into CDP.

 

[yuzu28]

Mine is Cash management acc, all trades around $25++ but shares is deposit into CDP.

Thanks, I have this account but only use it for IPO, SRS and UTs. Just want to compare Cash Plus vs DBST.

 

[CaptainWu]

Reviewing this thread here and hope someone can help to answer on my queries on SRS investment.

I understand POEMS Cash Plus with 0.08% commission and no minimum, just wonder does it applied for SRS investment as well? I also noticed there are maintenance/custody charge for sub-cdp but since SRS shares kept with SRS Operator so I suppose this is not applied?

Vickers I checked earlier they still charging $25 per trade so would not be using them for SRS.

 

[donnygg]

Yes, 0.08% commission and no minimum for POEMS Cash plus applies to SRS. There's still SGX fees on top of this, so for $1k transaction, total fees is ~$2.50. Once transferred to SRS, it's not under POEMS and so dividend fees don't apply. However, I'm not too sure about custody/maintenance fees, as i've so far been making at least one trade per quarter, which waives custody fees. It's not too clear if account maintenance fee is charged for active accounts or accounts with assets (incl cash). Best to ask customer service, i'm curious to know too.

EDIT: https://www.poems.com.sg/FinancialServices/CASH-PLUS-ACCOUNT-INFOSHEET.pdf
I think account maintenance fee is charged for active accounts even if there's nothing in there (AUC<$30k)

 

[CaptainWu]

Yes, 0.08% commission and no minimum for POEMS Cash plus applies to SRS. There's still SGX fees on top of this, so for $1k transaction, total fees is ~$2.50. Once transferred to SRS, it's not under POEMS and so dividend fees don't apply. However, I'm not too sure about custody/maintenance fees, as i've so far been making at least one trade per quarter, which waives custody fees. It's not too clear if account maintenance fee is charged for active accounts or accounts with assets (incl cash). Best to ask customer service, i'm curious to know too.

EDIT: https://www.poems.com.sg/FinancialServices/CASH-PLUS-ACCOUNT-INFOSHEET.pdf
I think account maintenance fee is charged for active accounts even if there's nothing in there (AUC<$30k)

I know there will be charges if inactive for Cash account but just wonder for SRS only.

Thanks and mailed them before but their CS doesn't like to answer specific question, keep pointing back to the link which makes me frustrated. May give them a call instead then.

 

[donnygg]

My guess is custody fee is charged if there's anything less than $250k in the account. SRS doesn't count towards assets under custody in POEMS but $0 < $250k, so still need to pay custody fee. But would be curious to hear what they say over the phone